INVESTOR ALERT: Levi & Korsinsky, LLP Notifies Investors of Protective Life Corporation of Class Action Against Its Board of Directors in Connection With the Sale of the Company to Dai-ichi Life Insurance Company, Limited -- PL

June 16, 2014 11:18 ET | Source:Levi & Korsinsky, LLP

NEW YORK, June 16, 2014 (GLOBE NEWSWIRE) -- Levi & Korsinsky notifies investors of Protective Life Corporation ("Protective Life" or "the Company") (NYSE:PL) of claims of breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Dai-ichi Life Insurance Company, Limited ("Dai-ichi"). A complaint was filed in Delaware state court.

Under the terms of the transaction, Protective Life shareholders will receive $70 in cash for each share of Protective Life common stock they own. The claims concern whether the Protective Life Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Dai-ichi is underpaying for Protective Life shares.

If you own Protective Life common stock and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/protective-life-pl.

Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's 26 attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.

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